SANTA CLARA, CA – October 06, 2021 – In a self-represented transaction, Drawbridge Realty, an investor in strategic corporate facilities in real estate markets nationwide, has finalized a lease for 66,106 square feet with Fungible Inc. to retain its world headquarters at 3201 Scott Boulevard in Santa Clara.
Fungible is a provider of high performance, scalable, disaggregated data center infrastructure and storage solutions. Founded in 2015 by Pradeep Sindhu, a co-founder and chief scientist at Juniper Networks, and Bertrand Serlet, a former SVP of software engineering at Apple, the company has raised more than $300 million in funding from investors.
Fungible was a sublessee of a previous full building tenant which initiated bankruptcy proceedings in late 2019. Working closely with Fungible, Drawbridge was able to expand the firm’s presence to the entire building for the next five years while providing a tenant improvement allowance for major expansion of Fungible’s existing data center.
“Companies providing scalable technology solutions to a broad range of corporate users continue to covet efficient, modern space solutions throughout the Bay Area and plan for the future,” said Bill Doyle, SVP-Investments, Drawbridge Realty. “We’re delighted to provide Fungible with a seamless transition from sublessee to direct tenant and to have been able to work closely with senior management to provide the type of facility they need to continue their planned growth trajectory,” Doyle added.
3201 Scott is situated on the ideal corner of San Thomas Expressway and Scott Blvd with immediate access to Highway 101.
Drawbridge has seen steady leasing and capital transaction activity throughout its portfolio during the pandemic and this is the third major lease Drawbridge has executed this year. In April, Drawbridge signed collectible grading company Collectors Universe to a major headquarters expansion in Santa Ana. In Austin, Drawbridge welcomed NC-based infrastructure design contractor Kimley-Horn to the final phase of Uplands Corporate Center, a construction project it completed earlier this month. In addition, Drawbridge repositioned and leased its Nancy Ridge lab asset in San Diego to LumiraDx, a UK-based medical diagnostics enterprise, later selling the building to a Santa Monica-based investor.
About Drawbridge Realty:
Drawbridge Realty is a San Francisco-based real estate investment and development company that targets commercial property investments in growth markets across the U.S. Its portfolio primarily consists of office properties leased long-term to large corporations with an emphasis on strategically important locations. Drawbridge has a long history of successfully creating value for corporate clients and investors and has completed transactions with companies including Bayer, Broadcom, IBM, Google, Johnson & Johnson, L3Harris Technologies, Lockheed Martin, Medtronic, NI, and Northrop Grumman. The current Drawbridge portfolio is comprised of over 5 million square feet located in growth markets across the United States.